13 days ago • Posted by Martin Boujol
UK tax authority updated its crypto tax advice to include staking taxes
If there were taxes on mining already, staking was left aside, until now. Mining is the process of cracking new codes for the blockchain, creating new coins, whereas staking is the process of locking in crypto assets to validate transactions, which is called a Proof-of-Stake. Investors who give their currency for blocking are rewarded with coins as well. This gain is the new one that will be taxed.